The Move Is a Rare Billion-Dollar Deal in Japan's Property Market

TOKYO—In a rare billion-dollar deal as Japan's property market heats up, Japanese department-store operator Takashimaya Co. said Thursday it would begin talks on buying an additional stake in a complex holding one of its flagship stores in downtown Tokyo.

The deal would be one of the largest in Japan this year and reflects the boost given to Japan's property market by the economic policies of Prime Minister Shinzo Abe.